Third in this sad saga of a lousy salesman.

“Subra I wish to pay Rs. 60,00,000 as premium for a life cover of Rs. 6 crores – Rs. 4 crores for me and Rs. 2 crores for my wife. The beneficiary should be my kids.

Me: Noble thought – glad to meet you regarding life insurance. It rarely happens.

C: Yes, yes I deal with foreign bank -and they have been telling me this, that is why I arrived at this figure..

Me: Is your wife dependent on you”

C: Partially maybe.

Me: Are you dependent on your wife, financially?

C: no of course not.

Me: So she does not need life insurance, correct?

C: Yes..according to what you say. However a foreign bank has been asking me..they also told me about a policy for my wife.

Me: Do you have any loans, ….etc.?

C: No. However i have not found a bigger house – may buy an extra bedroom!

Me: Take a term insurance – this will cover your daughter’s education. Your wife will continue in her job…take a pure term life insurance – it does not mean it is easy to buy term life insurance.

C: Oh i thought you bought term just on price – I was seeing it on google yesterday. By the way how much will a term insurance cover of Rs. 4 crores cost?

Me: Please listen, I will tell you how to buy term! Simple things are not easy to do – that is all! Well it should you cost about Rs. 60,000….will check and tell you.